Regulation 23I Procedure in relation to the revocation of MMF authorisation otherwise than by consentF1F2
(1)
If the FCA proposes to revoke the authorisation of an MMF otherwise than by consent, the FCA must give separate warning notices to the AIFM and the depositary of the MMF.
(2)
If the FCA decides to revoke the authorisation of an MMF otherwise than by consent—
(a)
the FCA must give each of the AIFM and the depositary a decision notice; and
(b)
either of them may refer the matter to the Tribunal.
Annotations
Textual amendments
- F1
Regulations revoked (14.12.2023 for the revocation of reg. 79) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(vi)
- F2
Pt. 3C inserted (28.6.2018 for specified purposes, 21.7.2018 in so far as not already in force) by The Money Market Funds Regulations 2018 (S.I. 2018/698), regs. 1(2), 4(3)